Irish politicians, bankers against tighter credit limits
They warn that proposed caps on mortgage loans, meant to prevent another credit bubble, will hurt young buyers
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IRISH politicians and bankers agree that easy credit was ultimately to blame for the collapse of the country's economy. Now they agree that the country mustn't go too far in imposing limits to prevent another bubble.
Ireland's central bank, attempting to temper a resurgent housing market, last month proposed that most new mortgage loans should be capped at 80 per cent of a property's value. A week later, Deputy Prime Minister Joan Burton questioned the plan, saying it would hurt young buyers. Her view was echoed by other politicians.
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